Excerpt from Trusts Pools and Corners: As Affecting Commerce and Industry, an Inquiry Into the Principles and Recent Operation of Combinations and Syndicates to Limit Production and Increase Prices
IN the following pages, the word Trust has been uni formly employed to signify combinations of every kind that have been devised with a view to controlling production and prices. There may be other words that more correctly express the exact character of the principles upon which certain combinations are founded, and the objects they have in view. But, however much the appellation may be entitled to the description of a mere euphemism, and however much it may fall short of the better known English term Ring, in conveying an adequate idea of the methods employed and the ends in View, it is the word commonly used in the United States to describe such combinations, and is not perhaps so offensive to those who may honestly approve of those principles and ends, apart from considerations of mere expediency.
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